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240 E Eldridge, Long Beach, California 90807, Long Beach, 90807 - 2 bed, 1 bath

240 E Eldridge, Long Beach, California 90807 home-pic-0
ACTIVE$699,000$720/sqft
Est. Value: $623,941
-10%
AboveEstimate
240 E Eldridge, Long Beach, California 90807
2Beds
1Bath
720Sqft
6,000Lot

Price Vs. Estimate

The estimated value ($623,940.625) is $75,059.375 (10%) lower than the list price ($699,000). This property may be overpriced.

Key pros and cons

Top Pros:
Development Potential: The expansive 6,000 sq ft lot is zoned R-3-4, offering significant flexibility for building an ADU, expanding the existing home, or exploring multi-family development options, appealing to investors and developers.
Top Cons:
Small Existing Living Space: The current home is a modest 720 sq ft with 2 beds and 1 bath, which may be too small for many prospective buyers without significant expansion or redevelopment.

Compared to the nearby listings

Price:$699.0K vs avg $1.05M ($-349,000)4%
Size:720 sqft vs avg 1,790 sqft1%
Price/sqft:$971 vs avg $65095%

More Insights

Built in 1922 (104 years old).
Condition: The property, built in 1922, has received significant cosmetic updates including fresh paint, modern laminate flooring, new kitchen cabinets and range, and a fully renovated bathroom with contemporary fixtures. These updates make the interior move-in ready and aesthetically pleasing. However, the home still relies on an outdated wall-mounted heating system, and the kitchen countertops and sink are not modern. The overall age of the structure (over 100 years old) and the condition of the backyard and detached garage indicate that while maintained and updated in parts, major components show signs of being outdated, aligning with the 'Fair' condition criteria.
Year Built
1922
Close
-
List price
$699K
Original List price
$699K
Price/Sqft
$971
HOA
-
Days on market
-
Sold On
-
MLS number
OC26002857
Home ConditionFair
Features
ViewNeighborhood

About this home

A charming single-family home offering endless potential in the heart of Long Beach! Welcome to 240 E. Eldridge St, a cozy residence set on an expansive lot that presents an exceptional opportunity for homeowners, investors, or developers alike. Zoned R-3-4, the approximately 6,000 sq ft lot offers a variety of possibilities—build an ADU, expand the existing home, or explore multi-family development options (buyer to verify). Whether you envision a private retreat or a property designed to maximize rental income, the possibilities are truly exciting. Located in a well-established neighborhood, this home is uniquely positioned with only one neighboring property, providing enhanced privacy and a sense of openness rarely found in the area. Just minutes from Memorial Hospital, major freeways, shopping, and dining, the property delivers outstanding convenience without compromising comfort. With Long Beach’s continued growth and strong housing demand, this is a rare opportunity to secure privacy, flexibility, and long-term value in a central location. Whether you’re planning for today or building for the future, don’t let it become a missed opportunity. This is your chance to create something truly special.

N
Nory Chin
Listing Agent

Price History

Date
Event
Price
08/02/01
Sold
$139,500
Condition Rating
Fair
The property, built in 1922, has received significant cosmetic updates including fresh paint, modern laminate flooring, new kitchen cabinets and range, and a fully renovated bathroom with contemporary fixtures. These updates make the interior move-in ready and aesthetically pleasing. However, the home still relies on an outdated wall-mounted heating system, and the kitchen countertops and sink are not modern. The overall age of the structure (over 100 years old) and the condition of the backyard and detached garage indicate that while maintained and updated in parts, major components show signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Development Potential: The expansive 6,000 sq ft lot is zoned R-3-4, offering significant flexibility for building an ADU, expanding the existing home, or exploring multi-family development options, appealing to investors and developers.
Prime Location & Convenience: Located in a well-established Long Beach neighborhood, the property offers outstanding convenience, being just minutes from Memorial Hospital, major freeways, shopping, and dining.
Enhanced Privacy: The unique positioning with only one neighboring property provides a rare sense of privacy and openness, which is highly desirable in an urban setting.
Investment & Long-Term Value: Situated in Long Beach, a market known for continued growth and strong housing demand, this property presents a solid opportunity for long-term value appreciation and potential rental income.
Versatile Opportunity: The property's characteristics and potential cater to a broad range of buyers, including homeowners looking to expand, investors seeking rental income, or developers aiming for multi-unit projects.

Cons

Small Existing Living Space: The current home is a modest 720 sq ft with 2 beds and 1 bath, which may be too small for many prospective buyers without significant expansion or redevelopment.
Age of Property: Built in 1922, the home is over 100 years old, suggesting it may require substantial updates, renovations, or maintenance to meet modern standards and preferences.
Development Due Diligence Required: While offering development potential, the listing explicitly states 'buyer to verify' all options, indicating that the process for ADU or multi-family development is not pre-approved and requires the buyer's own research and effort.
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